Have you thought about Gift Aid?
It’s estimated that around £750m in Gift Aid is left unclaimed each year in the UK, so it’s clear that more advice is needed to help charities claim the money they are entitled to. Over half of charities in the UK do not claim Gift Aid, as it can be a complicated process.
According to a report by nfpSynergy, since Gift Aid was introduced in 1990, only 2% of charitable income is currently made up of Gift Aid Donations.
The report also states that one of the biggest concerns for people signing off on Gift Aid when they make a donation is that they don’t know if they pay enough tax and are scared HMRC could reclaim the gift aid amount directly from them.
But now, to make things easier, charities can register for Gift Aid and can now make claims online.
Out of the 70,000 charities registered for Gift Aid, over 50,000 charities have signed up to Charities Online, HMRC’s web-based facility to claim back tax on donations. The biggest claim made online so far by a single charity has been for £3.7m.
Here at Blackbaud, we also have a Gift Aid Service to help charities when it comes to making Gift Aid declarations. The service includes:
- Creating a clear audit trail for peace of mind, allowing easy access to valid Gift Aid Declarations
- Protecting Gift Aid income received over the years, with minimum exposure with HMRC for repayments or penalties
- Uncovering missed opportunities
- Expert advice on how to implement, manage and leverage Gift Aid
The software we use was designed in collaboration with HMRC, and along with our expert team this gives you full confidence in making your Gift Aid claims.